FORTEC ELEKTRONIK Correlations

FEV Stock

EUR 15.10 0.10 0.66%

The current 90-days correlation between FORTEC ELEKTRONIK and Wizz Air Holdings is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as FORTEC ELEKTRONIK moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FORTEC ELEKTRONIK moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

FORTEC ELEKTRONIK Correlation With Market

Significant diversification

The correlation between FORTEC ELEKTRONIK and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FORTEC ELEKTRONIK and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to FORTEC ELEKTRONIK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FORTEC ELEKTRONIK when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back FORTEC ELEKTRONIK - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling FORTEC ELEKTRONIK to buy it.

Moving together with FORTEC Stock

0.76	MSF	Microsoft	Pair Corr
0.78	MSF	Microsoft	Pair Corr
0.77	MSF	Microsoft	Pair Corr
0.77	MSF	Microsoft	Pair Corr
0.77	MSF	Microsoft	Pair Corr
0.62	AMZ	Amazon Inc	Pair Corr
0.88	PQ9	PT Bank Mandiri	Pair Corr
0.79	PQ9	BANK MANDIRI	Pair Corr
0.89	PQ9	BANK MANDIRI	Pair Corr
0.83	PQ9	BANK MANDIRI	Pair Corr
0.72	BYRA	BANK RAKYAT IND	Pair Corr
0.8	BZG2	BANK CENTRAL ASIA	Pair Corr
0.79	BZG2	BANK CENTRAL ASIA	Pair Corr
0.78	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against FORTEC Stock

0.8	DBPE	Xtrackers LevDAX	Pair Corr
0.78	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	WI2	25F	2U0	DF0	6P8	6C2	44B	8AHB
WI2		-0.29	0.39	0.31	0.62	0.61	0.35	0.45	WI2
25F	-0.29		-0.43	0.11	-0.01	-0.3	0.29	-0.23	25F
2U0	0.39	-0.43		-0.44	0.28	0.42	-0.18	0.4	2U0
DF0	0.31	0.11	-0.44		0.09	-0.1	0.4	-0.23	DF0
6P8	0.62	-0.01	0.28	0.09		0.65	0.62	0.58	6P8
6C2	0.61	-0.3	0.42	-0.1	0.65		0.06	0.89	6C2
44B	0.35	0.29	-0.18	0.4	0.62	0.06		0.04	44B
8AHB	0.45	-0.23	0.4	-0.23	0.58	0.89	0.04		8AHB
	WI2	25F	2U0	DF0	6P8	6C2	44B	8AHB

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

8AHB	+ 0.89	6C2
6C2	+ 0.65	6P8
6P8	+ 0.62	WI2
44B	+ 0.62	6P8
6C2	+ 0.61	WI2
8AHB	+ 0.58	6P8

High negative correlations

DF0	- 0.44	2U0
2U0	- 0.43	25F
6C2	- 0.3	25F
25F	- 0.29	WI2
8AHB	- 0.23	DF0
8AHB	- 0.23	25F

Risk-Adjusted Indicators

There is a big difference between FORTEC Stock performing well and FORTEC ELEKTRONIK Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze FORTEC ELEKTRONIK's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WI2	3.14	0.53	0.14	0.46	3.62	(3.36)	8.25	(6.00)	22.00
25F	1.64	(0.15)	0.00	0.23	0.00	0.00	3.78	(3.71)	17.63
2U0	2.35	0.40	0.24	(1.27)	2.02	(3.10)	5.80	(4.19)	23.74
DF0	1.70	(0.09)	0.00	0.34	0.00	0.00	3.85	(4.79)	15.09
6P8	1.45	(0.01)	0.08	(0.09)	1.63	(1.94)	3.73	(3.25)	10.87
6C2	3.17	0.71	0.22	0.36	2.73	(4.11)	8.91	(5.31)	24.28
44B	2.39	(0.05)	0.00	(0.32)	0.00	0.00	3.75	(3.67)	25.63
8AHB	2.11	0.20	0.07	0.18	2.89	(2.45)	4.17	(5.34)	20.19

Be your own money manager

Our tools can tell you how much better you can do entering a position in FORTEC ELEKTRONIK without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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